Unit 2.8 Introduction to Event Marketing & Management

Unit 2.8

Introduction to Event Marketing & Management

Event Marketing

Event Marketing:

Refers to the actual marketing of an event by its organizers. For sports

events, this type of event marketing can involve a number of different areas

of marketing

2.8

What is SEM?

2.8

What is SEM?

Event Examples

2.8

What is SEM?

Event Examples

The gift bags given to guests at the 2014 ESPY awards carried an estimated value of $23,000 included vacation packages, gym memberships, gift cards, spa gift certificates, sailing lessons, golf club memberships, a coffee maker and a showerhead with a built in speaker

Event marketing has become a profitable segment of the sports/entertainment industry while creating a positive economic impact for the areas that host events

Billions are spent each year by marketers Russia bet big on the 2014 Winter Games in Sochi costs exceeded $50

billion, according to Russia's international news agency RIA Novosti. That would make it the most expensive games, summer or winter, ever staged.

By comparison, the 2010 Winter Olympics in Vancouver, Canada, cost $3.6 billion, according to an estimate by PricewaterhouseCoopers, though others put the bill closer to $6 billion.

In 2012, WrestleMania 28 broke the attendance record at Sun Life Stadium in Miami where 78,363 fans watched a battle between popular wrestlers The Rock and John Cena, generating $8.9 million in sales

The organizers of Montreal’s International Jazz Festival operate on a hefty $30 million budget

Since opening in downtown Washington, D.C. 15 years ago, the Verizon Center arena has hosted nearly 3,000 different events and attracted over 34 million fans

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What is SEM?

Recruiting athlete participation in event

Creating a publicity strategy to increase coverage of the event

Promoting the event to boost attendance

Selling sponsorships to corporations

Event Marketing

For sports events, event marketing can involve a number of different marketing activities

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What is SEM?

Marketing the event to corporations to urge sponsorship and general event support Working with government officials to provide public support

Marketing to private vendors that can provide services for the event

Event Marketing

For sports events, event marketing can involve a number of different marketing activities

2.8

What is SEM?

Event Marketing

The role of corporate support in event marketing has increased dramatically in the past few

decades. Without sponsorships and corporate support, many events would not be profitable.

The ADT Championship, once one of the LPGA's most prestigious events, was eventually canceled because the event sponsor, Stanford Financial, went into receivership and the event was unable to secure a new sponsor in their place.

2.8

What is SEM?

Event Marketing

The 2014 Winter Games in Sochi inked over $1 billion in sponsorship revenue by 2010, four years

before the games would even take place

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What is SEM?

To entice corporate support, event marketers must integrate the “5 P’s of Event Marketing” to their strategy to help sponsors achieve the results they are looking for as an event sponsor or partner.   

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What is SEM?

The 5 P’s of Event Marketing1) Participation

2) Product / Brand Experience

3) Promotion

4) Probe

5) Prospect

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What is SEM?

The 5 P’s of Event Marketing

Participation: Getting consumers to attend the event and interact with the company, whether visually, verbally or interactively

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What is SEM?

The 5 P’s of Event Marketing

Product / Brand Experience : Distributing samples or having the consumer try on or try out your product at the event

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What is SEM?

The 5 P’s of Event Marketing

Promotion:

Generating media exposure by creating stories within the event and further increasing corporate awareness through promotions

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What is SEM?

The 5 P’s of Event Marketing

Probe: Conducting research before, during and after the event to make sure that you are effectively reaching and penetrating your target audience

Prospect: Implies that companies should approach event marketing as a long-term commitment

Involvement with an event can require several years to establish before a company will reap the reward on their investment

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What is SEM?

The Event Triangle

1) The Event

2) The Sponsor

3) Spectators

The event triangle is the model for studying the exchanges developed in sports marketing. It places emphasis on the relationships between producers and consumers

The 3 Key Components of the Triangle

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What is SEM?

The Event

Can be amateur or professional

Typically provides some form of entertainment for spectators

Provides exposure for sponsors

The Event:

A function that will draw participants, spectators and sponsors

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What is SEM?

Event Examples

Super Bowl

FIFA World Cup

Local music festivals

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What is SEM?

Event Marketing

With so many events being offered, event organizers often find creative new venues to host events in an effort to generate public interest

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What is SEM?

Event Marketing

A Boston Globe story reported that there were 1.5 million US participants in just the three largest obstacle companies in 2012: Tough Mudder (the largest), Spartan Race, and Warrior Dash while Tough Mudder revenues jumped from $2 million in 2010 to a projected $115 million-plus for 2013 through 53 scheduled events in the US, Canada, Great Britain, Australia, and Germany.

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What is SEM?

Event Marketing

Based on the success of past shorter races (5k and 10k), many other unique racing events are now popping up, from the “Slime Run” and “Bacon Chase” to a Holiday Lites race event

LESSON 2.8

What is SEM?

The Sponsor

Will utilize the event to market its products or services

Will leverage its relationship to advance future business opportunities

The Sponsor:

A company using the event to reach important consumers

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What is SEM?

The Spectator

Typically must pay to attend the event

Exposed to promotions for the event and event sponsors

The Spectator:

Those attending the event as a source of entertainment

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What is SEM?

Event Management

While the primary focus of event marketing is to attract all three components of the

event triangle (event, sponsor, spectators), the primary function of event management is to ensure the event logistics are properly

planned and executed

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What is SEM?

Working with vendors

Facility selection

Staffing & Volunteers

Traffic & Parking

Security

Concessions

Event Planning

Key factors to consider when planning an event

Ticketing & Admissions

Sponsorship

Award Ceremonies

Special Accommodations

Weather

Hotels & Lodging

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What is SEM?

Event Management

For example, while some members of the Campus Rail Jam Tour were likely tasked with marketing

roles in an effort to maximize attendance and

attract sponsors, event management personnel would be responsible for

event logistics

2.8

What is SEM?

Event Management

Organizers of the Campus Rail Jam Tour trucked in 30 tons of snow to build a snowboard and ski course in downtown Portland, OR. Organizers paid a reported

$2,500 to have six dump trucks haul snow down from nearby Mount Hood in order to build an appropriate

venue for the snow sport competition to take place

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What is SEM?

Event Management

The event was also successfully marketed as over 6,000 spectators showed up to watch the competition